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General News of Tuesday, 9 October 2018


Bankers who lost their jobs deserved it – David Prah

The Eastern Regional Communications Director of the New Patriotic Party (NPP) David Prah has said that the more than 2,000 bank workers who lost their jobs in the recent banking crisis deserved to lose their jobs.

Speaking on ‘Epa Hoa Daben’ on Happy FM, he said ‘’They looked on for the banks to collapse, so the new owners can’t allow them to collapse the new banks too, I agree with the decision of the new owners to sack them all.’’

According to him, some of the bankers stole ‘84 trillion old Cedis’ that led to the collapse of the various banks and it is only fair for them to lose their jobs.

Although the Bank of Ghana assured workers of the 5 collapsed banks, now Consolidated Bank Ghana Limited, that they will not lose their jobs, in a letter dated August 1 and signed by the new Managing Director for CBG Limited, Daniel Addo, the workers were informed that a 60-day period will be used to access their employment status to determine whether they will remain employees of the new bank or not.

This move by the Managing Director of the CBG is contrary to the BoG’s assurances that workers from the 5 defunct banks will not lose their jobs.

The Bank of Ghana (BoG), on August 1, 2018, revoked the universal banking licenses of five privately owned indigenous banks and issued a license to a newly created entity – Consolidated Bank Ghana (CBG) Limited, to be wholly owned by the government of Ghana. This comes on the heels of two other banks (Capital and UT) being taken over by another state-owned bank – GCB Bank, under directives of the regulator in August 2017.